Allstocks.com's Bulletin Board Post New Topic  New Poll  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Hot Stocks Free for All ! » FORD selling $500 Million in common shares

 - UBBFriend: Email this page to someone!    
Author Topic: FORD selling $500 Million in common shares
R1 Man
Member


Icon 1 posted      Profile for R1 Man     Send New Private Message       Edit/Delete Post   Reply With Quote 
http://www.freep.com/apps/pbcs.dll/article?AID=/20080815/BUSINESS01/80815097/101 4

NEW YORK-- Ford Motor Co. said today it will sell $500 million in common stock to pay off debt at its financing arm, according to a regulatory filing.

The Dearborn, Mich.-based automaker said in a filing with the Securities and Exchange Commission that it will sell the shares from time to time, then use the proceeds to buy Ford Motor Credit LLC outstanding debt securities in the open market or privately negotiated deals.

Ford Motor Credit has struggled in recent months, taking a $2.1 billion charge during the second quarter related to the drop in used vehicle prices.

The move also further dilutes Ford stock at a time when its price is already near record lows. As of July 29, the company had roughly 2.19 billion common shares outstanding, according to a filing with the SEC.

Ford shares have dropped 24 percent in the last year.

Goldman, Sachs & Co. will handle the sale, Ford said.

Ford shares rose 1 cent to finish Friday at $5.11.

Posts: 2367 | From: Detroit | Registered: Mar 2005  |  IP: Logged | Report this post to a Moderator
R1 Man
Member


Icon 1 posted      Profile for R1 Man     Send New Private Message       Edit/Delete Post   Reply With Quote 
So, this is my thought?? Sell this one Short!

To me I think when investors see this, they will freak because the market will get flooded with more shares and it shows weakness in Ford. Monday, I'm thinking the price will drop to $4.80. $5.11 close on Friday. So a 6.5% drop. I'll check back when I wake up.

But good luck all.

Posts: 2367 | From: Detroit | Registered: Mar 2005  |  IP: Logged | Report this post to a Moderator
Peaser
Member


Icon 1 posted      Profile for Peaser     Send New Private Message       Edit/Delete Post   Reply With Quote 
Crash'n burn

Well, saves 'em from filing chapter 11 for now.

--------------------
Buy Low. Sell High.

Posts: 10750 | From: The Land Of The Giants | Registered: Feb 2005  |  IP: Logged | Report this post to a Moderator
R1 Man
Member


Icon 1 posted      Profile for R1 Man     Send New Private Message       Edit/Delete Post   Reply With Quote 
Well, I was a day off but did what I said. Now its time to buy. $4.74....ride to $4.90-5.00.
Posts: 2367 | From: Detroit | Registered: Mar 2005  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  New Poll  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share